Skip to main content

Market Overview

Phunware Raises $25M In Secondary Offering At 20% Discount

Share:
  • Phunware, Inc. (NASDAQ: PHUNpriced 11.111 million shares at $2.25 per share to rake in $25 million in a secondary offering for debt repayment, working capital, and general corporate purposes.
  • The offer price signifies a 20% discount to Thursday’s closing price. The underwriters have a 30-day option to procure additional shares up to 1.666 million.
  • The offering is estimated to close on February 17, 2021.
  • Phunware’s negative operating cash flow stood at $6.5 million in the quarter ended September 30, 2020. The closing cash balance stood at $1.1 million, and its long-term debt stood at $4.3 million.
  • Price action: PHUN shares are down 3.6% at $2.71 on the last check Friday.
 

Related Articles (PHUN)

View Comments and Join the Discussion!

Posted-In: News Penny Stocks Offerings

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com